Decoding the Shift Towards Lean Procurement in 2024 

What’s Unique About Volume 2 of Voice of Procurement? 

The key takeaway emerging from volume 2 of the whitepaper is that lean procurement is the point at which continuous cost optimization meets continuous improvement.  

Continuous cost optimization across fortnights, months, financial quarters, and financial years can be achieved by fulfilling two necessary conditions: 

1. The right data governance to identify gaps between the current and future states of value stream maps .
2. A digital supply chain skeleton that can enable agile feedback loops for procurement teams to set sail on the path of continuous improvement or kaizen through progressive PDCA cycles

What’s Included in Volume 2 of the Voice of Procurement? 

Volume 2 of the Voice of Procurement brings 7 insights that tell how CXOs in procurement are responding to 7 critical questions in 2024 Vs 2023. 

Each such chapter contains:  

✅ a chapter summary capturing the trend 

✅ takeaways for CXOs on procurement & supply chain 

✅ user recommendations for procurement leaders and their teams 

✅ actionable frameworks for CXOs in procurement to get started on continuous improvement 

From Continuous Improvement to Continuous Cost Optimization: The Rise of Lean Procurement 

From work in process, inventory levels, and time to costs, the science of doing more with less is catching up with the community of procurement leaders and practicing supply chain managers is like never before.  

The job of engineers is to make a product or to build an infrastructure project. It is the job of the procurement people to enable its make or build at the optimum cost.  

But continuous cost optimization across months, financial quarters, and financial years calls for more than just negotiating with suppliers for the best price discovery. It calls for lean procurement.

Thoughts on Research Behind the Whitepaper 

The second edition of our survey in 2024 featured 130 respondents from a diverse cross section of industry verticals in the manufacturing sector and featured the same set of 7 questions that we had asked last year to assess the shift in perspectives of the procurement community.  

At the end of the data collection and analysis exercise, we have got 7 takeaways, analysis and insights on questions ranging from a holistic view of the supply chain, ESG compliance, digital procurement & supply chain transformation and procurement outsourcing. 

To access this whitepaper and all the latest research on procurement, become a client.  

Every day, CPOs and their teams from 2000+ manufacturing enterprises across the U.S, Mexico, the U.A.E, Singapore, and India plug into Moglix Business’s procure-to-pay operating system to continuously improve their performance. Get in touch with a Moglix Business procurement expert to know you can get started on the path to continuous cost improvement.